by Erik Larson, eImpact
CTC thanks guest contributor Erik Larson for this report, combining Trulio and Zillow data to create great insights on technology workers and their impact on housing markets.
How Tech Is Impacting Housing
Zillow economists combine their data with Census data to produce new insights
Once in a while we like to share cool research we come across, especially on topics we hear come up often such as housing. It seems cities and small towns alike are facing housing affordability and shortage issues these days.
We thought this work by Zillow economists, working with data produced by their own search engine and home values database in combination on Census data covering in-and-out flows of jobs, to be particularly enlightening.
Below we've summarized a couple highlights, including some visualizations of key takeaways.
Housing affordability analysis is a growing part of our work here at eImpact. We'd love to hear from you if this is an area where data and analysis may be helpful: email us.
Where are techies moving to?
One of the first key takeaways from the Zillow research is where traditional Silicon Valley tech workers are migrating to across the U.S. While this section only highlights the larger metro markets, we know from talking to communities around the U.S. that smaller and midsize markets are picking up tech industry workers and employers as well, as the California markets price them out.
The chart below shows the percent of California migrants moving to each area, along with median home value in the respective market.
Source: Trulia, eImpact analysis.
And are the priceist, most tech-heavy California cities net gaining or net losing residents and homebuyers? In the chart below, only one city is net gaining, based on searches of prospective buyers vs. prospective mover-outers.
Source: Trulia, eImpact analysis.
If you are interested in reading the full article, you can visit the Census blog post here.
At eImpact we help organizations by collecting, analyzing and reporting data on issues they care about. Housing and real estate is just one of them. If you have a data project you've been thinking about, we'd love to hear from you!
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